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Bio-Rad Laboratories, Inc. (NYSE:BIO) Given Consensus Rating of "Moderate Buy" by Brokerages

Bio-Rad Laboratories logo with Medical background

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six research firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $436.67.

Several equities analysts recently issued reports on the company. Jefferies Financial Group reissued a "hold" rating and issued a $315.00 target price (down from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. UBS Group cut their price target on Bio-Rad Laboratories from $420.00 to $385.00 and set a "buy" rating on the stock in a research report on Wednesday, May 8th. Citigroup downgraded Bio-Rad Laboratories from a "buy" rating to a "neutral" rating and cut their price target for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. Finally, raised Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Tuesday, May 28th.

View Our Latest Stock Analysis on BIO

Insider Transactions at Bio-Rad Laboratories

In other news, EVP Michael Crowley sold 369 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $281.91, for a total transaction of $104,024.79. Following the sale, the executive vice president now directly owns 6,573 shares of the company's stock, valued at approximately $1,852,994.43. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 17.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BIO. Janney Montgomery Scott LLC lifted its stake in Bio-Rad Laboratories by 119.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 4,743 shares of the medical research company's stock valued at $1,701,000 after buying an additional 2,577 shares in the last quarter. Pathstone Family Office LLC purchased a new position in Bio-Rad Laboratories in the 3rd quarter worth approximately $298,000. HighTower Advisors LLC lifted its stake in Bio-Rad Laboratories by 0.7% in the 3rd quarter. HighTower Advisors LLC now owns 7,258 shares of the medical research company's stock worth $2,606,000 after purchasing an additional 54 shares in the last quarter. UBS Group AG lifted its stake in Bio-Rad Laboratories by 26.1% in the 3rd quarter. UBS Group AG now owns 39,927 shares of the medical research company's stock worth $14,312,000 after purchasing an additional 8,262 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in Bio-Rad Laboratories by 48.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 13,341 shares of the medical research company's stock worth $4,740,000 after purchasing an additional 4,325 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Performance

Shares of NYSE BIO traded up $13.51 during mid-day trading on Monday, hitting $295.77. The stock had a trading volume of 382,631 shares, compared to its average volume of 209,499. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.89 and a current ratio of 6.57. The company has a 50 day moving average of $288.43 and a two-hundred day moving average of $312.11. Bio-Rad Laboratories has a twelve month low of $261.59 and a twelve month high of $431.79. The firm has a market cap of $8.44 billion, a PE ratio of -28.55 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its earnings results on Tuesday, May 7th. The medical research company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.25. Bio-Rad Laboratories had a positive return on equity of 3.59% and a negative net margin of 12.37%. The firm had revenue of $610.82 million for the quarter, compared to the consensus estimate of $619.09 million. During the same period in the prior year, the firm earned $3.34 EPS. The firm's revenue was down 9.8% on a year-over-year basis. Research analysts predict that Bio-Rad Laboratories will post 10.8 EPS for the current fiscal year.

About Bio-Rad Laboratories

(Get Free Report

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.

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